ChrysCapital, India’s oldest private equity firm has closed its latest 8th fund of ₹5,950 crores ($850 million) in a record four-month which makes it the fastest fundraising by any India-based private equity firm. Despite of the macroeconomic uncertainties prevailing worldwide, the deal suggests that the global risk capital providers are speedy with their funding.
ChrysCapital’s four partners invested around ₹525 crores ($75 million) each from their side which took the overall corpus of the fund closer to around ₹6,475 crores ($925 million). Founded in 1999, the PE firm has four partners including Kunal Shroff, a former Goldman Sachs executive, Sanjiv Kaul, ex-Ranbaxy honcho, Ashley Menezes, former KPMG executive and Sanjay Kukreja, a manufacturing expert.
The private equity firm has ₹28,000 crores ($4 billion) worth of total assets under management and is known for its 2016 investment in National Stock Exchange (NSE). The firm has also closed some lucrative deals in NBFC company Hero FinCorp and skin care specialist firm Curatio.
“Given our strong pace of deployment of over $200 million per year and an active pipeline, we decided to embark on raising the eighth fund in August 2018,” said Kunal Shroff, managing partner at ChrysCapital.
The PE firm has invested in around 80 different startups and companies and exited 60 of them since its inception in 1999. With an investment portfolio in notable companies like Axis Bank, HCL Technologies, and KPIT Technologies, it is one of the prominent Private Equity investment firms in India.
Earlier in December 2018, ChrysCapital acquired 80 per cent stake in GeBBS Healthcare Solutions, a US-based healthcare firm for ₹1,000 crores ($140 million). Prior to that in April 2018, the firm hired SBI chairperson Arundhati Bhattacharya as an advisor.